Pebble was only worth $23 million to Fitbit
Talking about Pebble is still a little upsetting, and with the news of Fitbit only paying $23 million for the company is rubbing salt into the wound. When Fitbit initially purchased Pebble’s assets and property, it was believed to be a $40 million deal. We now know Fitbit wasn’t even confident enough in what the Pebble company was doing to pay full price. Fitbit paid $15 million for Vector Watch, which is a win for that company when you look at how small they are compared to Pebble.
Fitbit overall isn’t having a great run. Their stock price is down 73% over last year and doesn’t look like it’ll improve. Sales of their fitness trackers are stalling, and a smartwatch from them might not save the company.
Fitbit could resurrect Pebble
While Pebble as we know it is dead, some of their IP and talents made its way to Fitbit. There’s some hope that we’ll see a watch with a similar design and software, but still a far cry from what we came to love. It’s all heart wrenching for longtime fans who still have a watch, and wondering when Fitbit will kill off the watches services. The Pebble watches will likely become expensive bracelets by years end.
The smartwatch market isn’t a booming market, with Apple controlling most of the sales. Android Wear has tried to compete but hasn’t had much success. Motorola, Huawei, and HTC have all shelved ideas for smartwatches with them citing lack of interest. Fitbit looking for salvation in smartwatches seems a poor choice, but at this point, any hail marry could keep the company afloat.
Tell us in the comments below – do you have a Pebble smartwatch that you love or maybe you have an Android Wear or Apple Watch?